OPEC Fund raises African trade finance program to $100m

The OPEC Fund for International Development has increased its trade finance program from $50 million to $100 million to enable Natixis to enhance support for trade and development in Africa.  

The unfunded risk sharing agreement sees the OPEC Fund guarantee trade finance transactions supported by Natixis in developing countries. The program has supported trade transactions such as imports of medical equipment and sugar on the African continent, and in Asia. The original $50 million agreement was signed with Natixis in 2018.